PFG Investments LLC Cuts Stake in Arm Holdings plc (NASDAQ:ARM)

PFG Investments LLC cut its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,813 shares of the company’s stock after selling 2,194 shares during the quarter. PFG Investments LLC’s holdings in ARM were worth $2,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after buying an additional 77 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in ARM by 14.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock worth $90,000 after acquiring an additional 77 shares in the last quarter. BOKF NA increased its position in shares of ARM by 33.3% in the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock valued at $1,359,000 after purchasing an additional 100 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of ARM by 6.1% in the 1st quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley raised ARM from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $107.00 to $190.00 in a report on Friday, July 19th. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a report on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of ARM in a research note on Thursday, August 1st. William Blair initiated coverage on shares of ARM in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Loop Capital raised their price objective on shares of ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Price Performance

Shares of ARM stock traded up $2.71 during midday trading on Friday, hitting $143.75. The company had a trading volume of 4,425,012 shares, compared to its average volume of 11,123,650. Arm Holdings plc has a 52-week low of $47.12 and a 52-week high of $188.75. The company’s 50 day simple moving average is $139.19 and its 200 day simple moving average is $135.80. The stock has a market cap of $150.63 billion and a price-to-earnings ratio of 368.60.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. Analysts anticipate that Arm Holdings plc will post 0.86 EPS for the current year.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.